(IDEX Online) - Russian diamond miner Alrosa has announced that it will hold four auctions in 2020 in New York for rough diamonds weighing over 10.8 carats.
The first auction will take place on February 18-28 with results announced in the beginning of March. The following auctions are scheduled for May 11, July 20 and November 16.
"In general, each auction attracts up to 100 companies from different countries," said Evgeny Agureev, deputy CEO of Alrosa.
He said that auction sales currently only account for about 10 percent of Alrosa's overall sales.
Last week, Alrosa announced it was moving its March auctions for rough and polished diamonds from Hong Kong to other trading centers.
Alrosa's overall rough and polished diamond sales for 2019 amounted to $3.338 billion. During 2019, rough diamond sales reached $3.273 billion and polished diamonds $64.7 million.